Notes to Accounts of Bisil Plast Ltd.

Mar 31, 2015

Note : 1

Basis of preparation

The financial statements are prepared under the historical cost
convention on the accrual basis of accounting, in accordance with the
Indian Generally Accepted Accounting Principles (GAAP) and company
with the accounting standards, as prescribed by the companies
(Accounting Standards) Rules, 2006, and provisions of the Companies
Act, 1956, to the extent applicable, as adopted consistently by the
company. The Financial Statements have been prepared in Indian rupees.

Note : 2

The Financial statements for the year ended March 31,2015 had been
prepared as per the then applicable, pre-revised schedules VI to the
companies Act, 1956. Consequent to the notification of Revised
Schedule VI under the Companies Act, 1956, the financial statements
for the year ended 31 March, 2015 are prepared as per Revised Schedule
VI. Accordingly, the previous year figure have also been reclassified
to confirm to this year's classification. Such reclassification of
previous year figure does not impact recognition and measurement
principles followed for preparation of financial statements.

The company has only one class of equity shares having per value of
Rs. 1/- per share. Each shareholder is entitled to one vote per share
with a right to receive per share dividend declared by the company. In
the event of liquidation, the equity shareholders are entitled to
receive remaining assets of the company (after distribution of all
preferential amounts, if any) in the proportion of equity shares held
by the shareholders.

No provision for Income Tax has been made in view of carried forward
losses.

Note : 3

Contingent liabilities for uncompleted contract of capital expenditure
not provided for Rs. NIL

Note : 4

The Company has closed down in business operations. There are very few
employees. Therefore no Provision of Gratuity is made in the accounts.

Note : 5

Corresponding figures of previous year are rearranged / regrouped
wherever found necessary.

Note : 6

Balances are subject to confirmation.

In the opinion ofthe board, Current Assets, Loans & Advances are
Approximately at the value stated if realised in the ordinary course
of business. The provisions for all known liabilities are made in
accounts and the same are adequate and not in excess of amounts
reasonably necessary.

Note : 7

RELATED PARTY DISCLOSURES

Related party disclosures as required under Accounting Standard on "
Related Party Disclosures" issued by the Institute of Chartered
Accountants of India are given below :

The are no transactions with related parties.

Note : 8

During the year the company has not carried out any business activity.
Therefore Accounting standard 17 on segment Reporting is not
applicable.

Note : 9

The Company has unabsorbed depreciation and carried forward losses
under the Tax Laws. Also during the current year there is substantial
unabsorbed depreciation and business loss. In absence of virtual
certainty of sufficient future taxable income, deferred tax asset /
liability has not been recognised by way of prudence in accordance
with AS-22-"Accounting for Taxes on Income" issued by the
Institute of Chartered Accountants of India.

Mar 31, 2014

Note : 1.1

Contingent liabilities for uncompleted contract of capital expenditure
not provided for Rs. NIL

Note : 1.2

The Company has closed down its business operations. There are very few
employees. Therefore no Provision of Gratuity is made in the accounts.

Note : 1.3

Corresponding figures of previous year are rearranged / regrouped
wherever found necessary.

Note : 1.4

Balances are subject to confirmation.

Note : 1.5

In the opinion of the board, Current Assets, Loans & Advances are
Approximately at the value stated if realised in the ordinary course of
business. The provisions for all known liabilities are made in accounts
and the same are adequate and not in excess of amounts reasonably
necessary.

Note : 1.6

RELATED PARTY DISCLOSURES

Related party disclosures as required under Accounting Standard on
"Related Party Disclosures" issued by the Insutitute of Chartered
Accountants of India are given below :

The are no transactions with related parties.

Note : 1.7

During the year the company has not carried out any business activity.
Therefore Accounting standard 17 on segment Reporting is not
applicable.

Note : 1.8

The Company has unabsorbed depreciation and carried forward losses
under the Tax Laws. Also during the current year there is substantial
unabsorbed depreciation and business loss. In absence of virtual
certainty of sufficient future taxable income, deferred tax asset /
liability has not been recognised by way of prudence in accordance with
AS-22- "Accounting for Taxes on Income" issued by the Institute of
Chartered Accountants of India.

Note : 1.9

The additional information as required by Part-II of schedule VI of the
companies Act, 1956 are not given as the same are not applicable.

Mar 31, 2013

1 Basis of preparation

The financial statements are prepared under the historical cost
convention on the accrual basis of accounting, in accordance with the
Indian Generally Accepted Accounting Principles (GAAP) and company with
the accounting standards, as prescribed by the companies (Accounting
Standards) Rules, 2006, and provisions of the Companies Act, 1956, to
the extent applicable, as adopted consistently by the company. The
Financial Statements have been prepared in indian rupees.

Note : 2

The Financial statements for the year ended March 31,2012 had been
prepared as per the then applicable, pre-revised schedules VI to the
companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for the year
ended 31 March, 2013 are prepared as per Revised Schedule VI.
Accordingly, the previous year figure have also been reclassified to
confirm to this year''s classification. Such reclassification of
previous year figure does not impact recognition and measurement
principles followd for preparation of financial statements.

Note : 3

During the year the company has sold its entire block of plant and
machinery as the company has closed down its business activities. The
profit arising on such sale in treated as profit from discontining
business.

Note : 4

No provision for Income Ta x has been made in view of carried forward
losses.

Note : 5

Contingent liabilities for uncompleted contract of capital expenditure
not provided for Rs. NIL

Note : 6

The Company has closed down in business operations. There are very few
employees. Therefore no Provision of Gratuity is made in the accounts.

Note : 7

Corresponding figures of previous year are rearranged / regrouped
wherever found necessary.

Note : 8

Balances are subject to confirmation.

Note : 9

In the opinion of the board, Current Assets, Loans & Advances are
Approximately at the value stated if realised in the ordinary course of
business. The provisions for all known liabilities are made in accounts
and the same are adequate and not in excess of amounts reasonably
necessary.

Note : 10

RELATED PARTY DISCLOSURES

Related party disclosures as required under Accounting Standard on "
Related Party Disclosures" issued by the Insutitute of Chartered
Accountants of India are given below :

The are no transaction with related parties.

Note : 11

During the year the company has not carried out any business activity.
Therefore Accounting standard 17 on segment Reporting is not
applicable.

Note : 12

The Company has unabsorbed depreciation and carried forward losses
under the Tax Laws. Also during the current year there is substantial
unabsorbed depreciation and business loss. In absence of virtual
certainty of sufficient future taxable income, deferred tax asset /
liability has not been recognised by way of prudence in accordance with
AS-22- "Accounting for Taxes on Income" issued by the Institute of
Chartered Accountants of India.

Note : 13

The additional information as required by Part-II of schedule VI of the
companies Act, 1956 are not given as the same as are not applicable.

Mar 31, 2012

Note : 1

1 Basis of preparation

The financial statements are prepared under the historical cost
convention on the accrual basis of accounting, in accordance with the
Indian Generally Accepted Accounting Principles (GAAP) and company with
the accounting standards, as prescribed by the companies (Accounting
Standards) Rules, 2006, and provisions of the Companies Act, 1956, to
the extent applicable, as adopted consistently by the company. The
Financial Statements have been prepared in Indian rupees.

Note : 2

The Financial statements for the year ended March 31, 2011 had been
prepared as per the then applicable, pre-revised schedules VI to the
companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for the year
ended 31 March, 2012 are prepared as per Revised Schedule VI.
Accordingly, the previous year figure have also been reclassified to
confirm to this year's classification. Such reclassification of
previous year figure does not impact recognition and measurement
principles followed for preparation of financial statements.

The company has only one class of equity shares having per value of
Rs. 1/- per share. Each shareholder is entitled to one vote per share
with a right to receive per share dividend declared by the company. In
the event of liquidation, the equity shareholders are entitled to
receive remaining assets of the company (after distribution of all
preferential amounts, if any) in the proportion of equity shares held
by the shareholders.

@ The Company has been making default in the repayment of principal and
interest. During the year the company has entered into one time
settlement with the said bank and accordingly the company has to pay
Rs. 3,32,24,407, out of which the company has paid Rs. 96,90,051/-.
comprising of Interest of Rs. 56,92,734/- and principal of Rs.
39,37,317/-. The balance will be paid in the equal monthly installment
of Rs. 23,53,396/- with simple interest of 6%

Note : 3

The Company had taken Term Loan from Charotar Nagrik Sahakari Bank Ltd.
The company has been irregular in the repayment of its instalment and
also in the payment of interest since many years. The company was also
not making the provision for interest.

During the year the company has entered into One Time Settlement (OTS)
with the said bank, whereby the final amount payable to the bank was
determind at Rs. 3,32,24,407/-. Out of the said amount the company has
paid Rs. 96,90,051/- being interest payable for earlier year of Rs.
56,92,734/- and principal of Rs. 39,97,317/-.

The difference in the amount outstanding as per the accounts of the
company and the OTS is considered as interest and is treated as
optional and extraordinary item.

Note : 4

During the year the company has sold its entire block of plant and
machinery as the company has closed down its business activities. The
profit arising on such slae in treated as profit from discontinuing
business.

Note : 5

No provision for Income Tax has been made in view of carried forward
losses.

Note : 6

Contingent liabilities for uncompleted contract of capital expenditure
not provided for Rs. NIL

Note : 7

The Company has closed down in business operations. There are very few
employees. Therefore no Provision of Gratuity is made in the accounts.

Note : 8

Corresponding figures of previous year are rearranged / regrouped
wherever found necessary.

Note : 9

Balances are subject to confirmation.

Note : 10

In the opinion of the board, Current Assets, Loans & Advances are
Approximately at the value stated if realised in the ordinary course of
business. The provisions for all known liabilities are made in accounts
and the same are adequate and not in excess of amounts reasonably
necessary.

Note : 11 RELATED PARTY DISCLOSURES

Related party disclosures as required under Accounting Standard on "
Related Party Disclosures" issued by the Institute of Chartered
Accountants of India are given below :

The are no transaction with related parties.

Note : 12

During the year the company has not carried out any business activity.
Therefore Accounting standard 17 on segment Reporting is not
applicable.

Note : 13

Earnings Per Share :

Net Profit for the year - 29818172

No.Of Equity Shares fully paid up 52551400

Earnings per shares Rs. - 0.57

Note : 14

The Company has unabsorbed depreciation and carried forward losses
under the Tax Laws. Also during the current year there is substantial
unabsorbed depreciation and business loss. In absence of virtual
certainty of sufficient future taxable income, deferred tax asset /
liability has not been recognised by way of prudence in accordance with
AS-22- "Accounting for Taxes on Income" issued by the Institute of
Chartered Accountants of India.

Note : 15

The additional information as required by Part-II of schedule VI of the
companies Act, 1956 are not given as the same as are not applicable.

3. Corresponding figures of previous year and / or rearranged wherever
found necessary

4. Balances are subject to confirmation.

5. In the opinion ot the board, Current Assets, Loans & Advances are
Approximately of the value stated if realised in the ordinary course of
business. The provisions for all known liabilities are made in accounts
and the same are adequate and not in excess of amounts reasonably
necessary.

6. Since the Company is engaged in the business of Manufacturing
Mineral water only and selling within the state of Gujarat the
Accounting Standard 17 on "Segment Repoting" is not applicable.

7. Earnings Per Share :

Net Profit for the year (3451263)

No.of Equity Shares fully paid up 52551400.00

No.of Equity Shares partly paid up 2894000.00

Weighted average of shares 52307000.00

Face value of shares Re. 1./-

Eamings per shares Re. -

8. The Company has unabsorbed depreciation and carried forward losses
under Ihe Tax Laws. Also during the current year there is substantial
unabsorbed depreciation and business loss. In absence of virtual
certainity of sufficient future taxable income, deferred tax
asset/liabilities has not been recognised by way of prudence in
accordance with AS-22"Accounting for Taxes on Income" issued by the
Institute of Chartered Accountants of India.